3. Eddie Van Halen's "Frankenstrat"

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Musicians have long debated whether a Fender or Gibson deserves to be called the best guitar in the world. Van Halen front man Eddie Van Halen simply combined the two to create his legendary Frankenstrat guitar.

In the 1970s, Van Halen was able to buy the ash body for $50 because there was a large knot in the wood. He then found a maple neck for the guitar for $80, bringing the grand total of his prized ax to a whopping $130. Eddie then utilized everything at his disposal, including bicycle paint, masking tape and wax to give the Frankenstrat its unique look. The crafty guitarist even cut up an old vinyl record to serve as a pickguard.